The FBAR form is now Form 114 and can no longe
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The form must be filed if the combined highest balances in your foreign financial accounts at any time during the calendar year exceed $10,000 US or more. Foreign financial accounts include banks, foreign stock brokers, foreign pension plans, foreign gold storage places, etc.
You must also report all income earned on these accounts on your Form 1040 and fill out the proper information on Schedule B stating that you are required to file an FBAR form.
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